The pre-Collor Brazil was an exemplar of Third World state capitalism. To undo the canopy of state interventionism, central planning, and a jungle of restrictive regulations, Collor’s administration had to inculcate Brazil with a new culture of antistatist but private market-based development. The success of his reforms meant a direct confrontation with the statist tradition which has spawned scores, if not hundreds, of interest groups, including powerful business enterprises, both public and private, an ingrained ideology of topdown development, and a strong dose of national aspirations that Brazil was destined to become the global player in the South Atlantic. The power of the state steered the growth of Brazil’s economy for decades. As the economy grew, the state grew. State power led the transition from the agrarian to the industrial phase in Brazil. The power of the state, as in Pombal’s Portugal and Colbert’s France, shortened Brazil’s rise from a backward economy to the world’s eighth largest industrial economy within three decades. The state held the absolute financial lever.2


Foreign Direct Investment Pension Fund Executive Branch Real Plan Export Promotion 
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Copyright information

© Eul-Soo Pang 2002

Authors and Affiliations

  • Eul-Soo Pang
    • 1
  1. 1.Colorado School of MinesGoldenUSA

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